The Best Home Improvements to Make for Resale
Are you ready to make some improvements to your home? Maybe you just got back your tax return and aren't sure which improvements you should use that money towards. Some home improvement projects are more beneficial to your home if you are looking to resell in the future.
You can spend a lot on something purely for the personal pleasure of having it—like that outdoor Jacuzzi under the attached gazebo—or you can go the practical route and make an improvement that will increase your home's market value. If you're looking to improve the appearance of your home for resale, or you just want an updated look for your own enjoyment, consider a few things before beginning any costly project.
It may not sound very exciting, but it's the basic improvements you make to your home that may have the greatest return on its value: a beautiful new bathroom won't make up for a leaky roof.
Below are some examples of a few improvements that usually pay off—and some that rarely make a difference (no matter how much you paid for them) when it comes time to sell your home.
Beneficial Improvements Include:
- Painting - If you're planning to sell your home in a year or two, a fresh coat of a neutral-toned paint could make the sale easier. A professional exterior paint job may also recoup close to 75% of its cost. Let's face it— we all like things fresh-looking.
- Kitchen - With just a few basic improvements, your kitchen can practically pay you back with interest! New paint, wallpaper and flooring are always appreciated. Replacing old cabinet hardware is a low-cost improvement that makes a big difference in appearance, according to the Remodeling magazine.
Don't Expect Money Back on These Improvements:
- Swimming Pool - In a word-don't! Unless you're putting it in for you and your family to enjoy, it's commonly agreed that a swimming pool has no resale value at all.
- Picture Perfect Gardens - If the potential buyer is not horticulturally inclined, chances are your floral handiwork won't add to the offering price. The same can be said for expensive fences and stone walls-they look nice, but buyers don't pay up for them.